SunSwap V1 Review 2026: A TRON DEX for TRC20 Swaps

SunSwap V1 is a decentralized exchange on the TRON blockchain. It is described as a trading protocol for automated liquidity provision and an open financial market that anyone can use. It supports swaps between TRC20 tokens.

DefiLlama lists it in the Dexs category on TRON only, with about $49.5 million in total value locked and a 2.6% drop in TVL over the past week. It has been tracked since October 2021 and has two audits listed. The SUN token is associated with the project.

The homepage says market makers earn service fees continuously and that the platform takes no commission. The project does not cover trading volume, team details or the relationship between V1 and any later SunSwap versions, so this review is limited to what is published.

SunSwap V1 is an automated market maker. Instead of matching buyers and sellers in an order book, it uses liquidity pools that hold two tokens. A smart contract sets the price from the ratio of tokens in the pool and adjusts it after each trade.

Liquidity providers deposit tokens into a pool and receive a claim on it. Traders pay a fee on each swap, and the homepage says these fees go to market makers while the platform takes no commission.

Because it runs on TRON, swaps settle on-chain and users keep control of their tokens in their own wallets until they trade. The risks are smart-contract bugs, price moves that cause impermanent loss for liquidity providers, and slippage on trades in thin pools.

The homepage says market makers receive service fees continuously and that the platform does not take any commission. In other words, the swap fee goes to liquidity providers rather than to the protocol operator.

The exact swap fee percentage is not stated publicly. Users would see the fee and expected output in the swap interface before confirming a trade. Separate TRON network costs, paid in TRX, also apply to each transaction.

DefiLlama lists two audits for SunSwap V1, but the project does not name the auditors or describe the findings. An audit reduces risk without removing it, and smart-contract bugs remain possible in any DEX.

The exchange is non-custodial in design, meaning users trade from their own wallets. Main risks are contract vulnerabilities, impermanent loss for liquidity providers, slippage in smaller pools and fake sites imitating the interface. No incidents are mentioned publicly, and regulatory status is not stated. Always verify you are on the official site and never share your seed phrase.

SunSwap V1 is for people already using TRON who want to trade TRC20 tokens from their own wallet or provide liquidity to earn fees. It is less suited to users who need multi-chain access or detailed published analytics before they commit funds.